Credit Suisse: USD/JPY remains on the offensive this week - eFXnews

By FXstreet.com | August 21, 2014 AAA

FXStreet (Łódź) - The eFXnews team remark that Credit Suisse notes USD/JPY's rise up through the 61.8% retracement barrier at 103.67 this week, following the completion of a base above 103.09/12.

Key quotes



"This leaves the spotlight on the 104.13 April high. Whilst a fresh setback from here should be allowed for, an eventual break is expected for a retest of the 105.48/60 highs, CS projects."



"Near-term support moves to 103.67, below which can see a pullback to 103.42, potentially as far as 103.09/03, where fresh buying would be expected to show, CS adds."



"CS booked profit on its latest USD/JPY position at 103.05 and reinstated long above there targeting 105.25, with a stop at 102.42."



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